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I know little about how payment processors function... but surely they are a far better positioned target for this type of legislation? they are fewer, larger,
by tomxor 6y ago
I know little about how payment processors function... but surely they are a far better positioned target for this type of legislation? they are fewer, larger, and in a position to completely automate collection of VAT.
- galvin 6y agoThere are reduced rates of VAT for certain categories of products and services so payment processors would need to know what the charge they are processing is for. It's not uncommon for invoices to include multiple VAT rates in certain industries so that would add another level of complexity. A grocery store will charge different rates for essentials and non-essentials, a builder will charge different rates for materials and services, and there are probably other examples that apply to online sales too.